AgNext Technologies, a Chandigarh-based agritech startup, has raised $21 million in Series A funding led by Alpha Wave Incubation to expand its technology and market reach.

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AgNext Technologies, an agritech startup based in Chandigarh, India, has successfully raised $21 million in a Series A funding round led by Alpha Wave Incubation (AWI). The funding round also saw participation from existing investors Omnivore and Kalaari Capital. Founded in 2016, AgNext initially received seed funding from a-IDEA, an agribusiness incubator managed by the National Academy of Agricultural Research Management (NAARM). This recent funding not only marks a significant milestone for the company but also provides a fivefold exit for a-IDEA.

With this new capital, AgNext aims to expand its presence into new commodities and international markets, targeting regions such as the Middle East, Europe, and South Asia. The funding will facilitate the development of its technology platform, Qualix, which is designed to enable quality-driven trade transactions across various food value chains. Additionally, AgNext plans to establish a new office in Abu Dhabi to support its growth strategy.

Industry Overview in India

The agritech industry in India has witnessed substantial growth over the past few years, driven by a rising demand for innovative solutions to improve the agricultural supply chain. With a substantial portion of the populati